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e inventory balance Altira would report in its August 31, Ist 2024 income statement using the FIFO method. Cost of Goods Sold - August 25 Inventory Balance Cost of Number Cost per Cost of Total Cost of Number of Goods Sold |of units Cost per Ending sold unit Goods Sold Goods Sold units in inventory unit Inventory $ 8.00 $ $ 800 $ 7.40 7.40 0 6.60 6.60 5.80 5.80 $ raw 43.F Cloudy DELLTor $13 .90 each. August 18 Purchased 11,700 units for $6. 60 each. August 25 Sold 14, 600 units for $12.90 each. August 28 Purchased 5,900 units for $5.80 each. August 31 Inventory on hand-10, 800 units. Required: 1. Using calculations based on a perpetual inventory system, determine the inventory balance Altira would report in its August 31, 2024. balance sheet and the cost of goods sold it would report in its August 2024 income statement using the FIFO method. Cost of Goods Available for Sale Cost of Goods Sold - August 14 Cost of Goods Sold - August 25 Perpetual FIFO Cost of Number of Cost per Goods Number Number of units Cost per Cost of of units Cost per Cost of Total Cost of Nu units unit Available for sold unit Goods Sold sold unit Goods Sold Goods Sold Sale inv Beginning Inventory 3,900 $ 8.00 $ 31,200 $ 8.00 $ 8.00 $ Purchases August 8 19,500 7.40 144,300 7 40 7.40 August 18 11,700 6.60 77,220 6.60 6.60 August 28 5,900 5.80 34,220 5.80 5.80 "lotal 41,000 $ 286,940 0 Pre.v. 6 7 of 9 Next > 2:52 PM 43.F Cloudy 4/16/2023 O DELL\f